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Sep 30, 2021
NJR Q4 2021 Earnings Report
NJR's fourth-quarter earnings declined compared to the same period last year, but fiscal year 2021 results exceeded expectations.
Key Takeaways
New Jersey Resources reported a net loss of $1.1 million, or $(0.01) per share, for the fourth quarter of fiscal 2021, compared to a net income of $32.7 million, or $0.34 per share, for the same period in fiscal 2020. However, fiscal year 2021 net income totaled $117.9 million, exceeding expectations. The company reaffirmed its fiscal 2022 NFE guidance and narrowed its long-term projected NFEPS growth rate.
Consolidated net income of $117.9 million for fiscal 2021 compared with $163.0 million in fiscal 2020.
Consolidated net financial earnings (NFE), a non-GAAP financial measure of $207.7 million for fiscal 2021, or $2.16 per share, compared with NFE of $165.3 million, or $1.74 per share, in fiscal 2020.
Affirmed fiscal 2022 net financial earnings per share (NFEPS) guidance range of $2.20 to $2.30 and narrowed long-term projected NFEPS growth rate to 7 to 9 percent, from previous range of 6 to 10 percent.
New Jersey Natural Gas (NJNG) received approval from the BPU on the settlement of its rate case authorizing a $79.0 million increase to its base rates.
NJR
NJR
NJR Revenue by Segment
Revenue by Segment
Natural Gas Distribution Revenue
CapyFin.comClean Energy Ventures Revenue
CapyFin.com Forward Guidance
NJR reaffirmed fiscal 2022 NFE guidance of $2.20 to $2.30 per share and narrowed the expected long-term NFEPS growth range to 7 to 9 percent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income